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Cath Kidston buys back Japanese franchise

Lifestyle retailer Cath Kidson has bought back its Japanese business, its biggest outside the UK, as it gears up for further international expansion.

The chain, which has 31 shops in Japan, has bought its business back from conglomerate TSI Holdings and will take control of the franchise in September.

Cath Kidson believes it can double the number of Japanese stores.

Kenny Wilson, chief executive of Cath Kidston, said: “Japan is our biggest international market outside the UK and a key part of our strategy to globalise the brand. During 2016 we will celebrate our tenth anniversary since opening the first store in Tokyo and we see real opportunities to grow the brand even further across Asia.”

TSI Holdings has ran the Japanese business since 2011 and sales have grown by 17% each year, accounting for 20% of all Cath Kidson sales.

The deal comes after Baring Private Equity Asia bought a substantial stake in Cath Kidston last year to help propel its expansion in Asia. The firm controls Cath Kidston alongside private equity firm TA Associates, while Cath Kidston herself continues to own a minority stake in the business she founded in 1993.

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